A lot of politicians are running scared because they are afraid that something will pop up and embarrass them, so the Panama leaks are very important from a political point of view, author and Russia analyst Martin McCauley told RT.

Intelligence agencies from several countries, including CIA intermediaries, have abundantly used the services of Panamanian law firm Mossack Fonseca to "conceal" their activities, German newspaper Sueddeutsche Zeitung (SZ) says, citing leaked documents.

The story of the leaked Panama Papers and President Vladimir Putin has taken a new twist. The Western media is now suggesting that Putin has orchestrated it all... exactly because his alleged involvement in offshore schemes is not mentioned in the docs.

David Cameron, who promised to clampdown on tax avoidance, but then admitted he himself had a profitable stake in his father’s offshore fund, expects the public to be open and transparent. However, he isn’t standing to these standards himself, experts told RT.